Marshall Wace LLP Decreases Holdings in ResMed Inc. (NYSE:RMD)

Marshall Wace LLP reduced its stake in ResMed Inc. (NYSE:RMD - Free Report) by 98.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,851 shares of the medical equipment provider's stock after selling 395,621 shares during the quarter. Marshall Wace LLP's holdings in ResMed were worth $1,795,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RMD. Invesco Ltd. increased its holdings in ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after acquiring an additional 566,046 shares during the last quarter. Norges Bank purchased a new position in ResMed in the 4th quarter valued at approximately $118,605,000. Los Angeles Capital Management LLC raised its holdings in ResMed by 60.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock valued at $152,973,000 after acquiring an additional 250,746 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of ResMed during the fourth quarter worth $50,364,000. Finally, Nordea Investment Management AB boosted its holdings in shares of ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider's stock worth $103,214,000 after acquiring an additional 215,561 shares during the period. Institutional investors own 54.98% of the company's stock.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at approximately $95,580,799.20. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the transaction, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,013 shares of company stock worth $11,298,816. Company insiders own 0.71% of the company's stock.

ResMed Stock Down 0.1 %

RMD opened at $235.79 on Monday. The business's 50-day moving average price is $221.92 and its 200-day moving average price is $234.00. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. The company has a market cap of $34.63 billion, a P/E ratio of 27.84, a P/E/G ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.37. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. On average, equities analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is 23.79%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. KeyCorp set a $274.00 target price on ResMed in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday. StockNews.com lowered shares of ResMed from a "buy" rating to a "hold" rating in a report on Thursday. Royal Bank of Canada increased their price objective on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research report on Thursday. Finally, Mizuho set a $265.00 target price on ResMed in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $258.83.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.

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